Awareness-raising seminar on Fit and Proper directives issued by CBM held in Yangon

The Central Bank of Myanmar organized an awareness-raising seminar on Fit and Proper directives issued by CBM, in Yangon yesterday.
The seminar is aimed at raising awareness for banks and non-banking financial institutions, mobile banking service providers, merchant acquiring services, licensed money transfer counters, stakeholders of money exchangers and companies’ directors.
Speaking at the event, CBM Governor Daw Than Than Swe said CBM is implementing anti-money laundering and combating the financing of terrorism (AML/CFT) measures under the lead of the government by cooperating with the departments concerned and private sectors. The Fit and Proper for banks and non-banking financial institutions are preventive measures to curb the inflow of finances, property and profits from defendants in financial institutions. Efforts should be made not to include those who commit money-laundering processes in the investment and capital in all financial institutions, businesses and vocational processes. It should also beef up preventive measures including investigation and reporting.
Then, officials reported on Fit and Proper directives for banking and non-banking financial institutions, those who run remittance services, foreign exchange, mobile banking and banks-led mobile banking services and merchant acquiring services. — MNA/KTZH